HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.001%

Price spread now: Pacifica against Lighter+0.019%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$7as in the Price arb table

costs, in and out, $10k−$110.112% of the position

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.019%, 7d avg −0.025%

Together, before fees−0.095%+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm board−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.044% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	94.576	0.0096	pay 0.0012% / 1h	38m 15s	$16.2M	$62.6M	20x
Short	Pacifica HYPE	94.594	0.0100	get 0.0013% / 1h	38m 15s	$10.2M	$14.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee PacificabpOrdersPrice spread, now +0.019%Rate

Funding earned: $0.84
Price spread: +0.019% → −0.025%: $4.43
Slippage, 4 orders: −$3.19
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$5.93
Costs to cover: 0.112%
Break-even: 56.4 days

Slippage from Lighter: live order book, 6 min ago; Pacifica: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 6 min ago	0.06 bp	0.3 bp $0	1.5 bp −$15	11.9 bp −$1,190	41.7 bp −$20.8K
Sell Pacifica live order book, 1 min ago	0.58 bp	4.9 bp −$5	doesn't fit	doesn't fit	doesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1016%	1h	94.453	−0.131%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0626%	1h	94.563	−0.014%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0311%	1h	94.702	+0.134%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0197%	1h	94.571	−0.005%	$112K	$578K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0143%	1h	94.450	−0.133%	$704K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.556	−0.021%	$1.0M	$3.5M	10x	as long as short
Gate HYPE_USDT	−0.0090%	4h	94.569	−0.008%	$51.4M	$54.9M	75x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	94.609	+0.035%	$90K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.532	−0.047%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.557	−0.021%	$19.0M	$35.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HYPEUSDT	−0.0023%	8h	94.564	−0.013%	$12.9M	$2.9M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.548	−0.030%	$147K	$682K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.566	−0.010%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.629	+0.056%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.552	−0.025%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.610	+0.036%	$95K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.747	+0.181%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0015%	8h	94.570	−0.006%	$318.2M	$296.5M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.560	−0.017%	$4.7M	$6.4M	50x	as long as short
Bitget HYPEUSDT	+0.0020%	4h	94.589	+0.014%	$227.2M	$99.7M	75x	as long as short
Derive HYPE-PERP	+0.0045%	1h	94.501	−0.079%	$16.3M	$7.5M	10x	as long as short
Vest HYPE-PERP	+0.0047%	1h	94.640	+0.068%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0050%	8h	94.564	−0.013%	$338K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0053%	8h	94.570	−0.006%	$117.9M	$329.6M	50x	as long as short
SoDEX HYPE-USD	+0.0082%	1h	94.588	+0.013%	$2.1M	$2.0M	10x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.574	−0.002%	$5.0M	$30.8M	30x	as long as short
Lighter HYPElong	+0.0096%	1h	94.576	long leg	$16.2M	$62.6M	20x
Lighter RH HYPE	+0.0096%	1h	94.573	−0.003%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.583	+0.007%	$148K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.540	−0.038%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.531	−0.047%	$7.3M	$52.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.695	+0.126%	$2.08B	$685.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.521	−0.058%	$9.7M	$37.6M	300x	as long as short
Pacifica HYPEshort	+0.0100%	1h	94.594	+0.019%	$10.2M	$14.5M	20x
Binance HYPEUSDT	+0.0100%	4h	94.591	+0.016%	$380.9M	$939.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.564	−0.013%	$220K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.600	+0.025%	$93.8M	$85.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.568	−0.009%	$47.2M	$19.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.580	+0.004%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.553	−0.024%	$7.6M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.028%	$30.0M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.786	+0.222%	$7.7M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.537	−0.041%	$345K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.575	−0.001%	$693K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.648	+0.076%	$499K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.659	+0.088%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.675	+0.105%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.564	−0.013%	$18.4M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.574	−0.002%	$400K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.604	+0.029%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.530	−0.049%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0215%	1h	94.673	+0.102%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.564	−0.013%	$85K	$118K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	94.626	+0.053%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.502	−0.078%	$17.2M	$12.6M	75x	as long as short